Get Ny Dtf It-602 2022-2026

The NY DTF IT-602 form, known as the Claim for EZ Capital Tax Credit, is crucial for individuals and businesses seeking to claim a carryover credit for prior tax years. This guide will provide clear, step-by-step instructions tailored to help you complete the form online with ease.

Follow the steps to effectively complete your NY DTF IT-602 form online

1. Click ‘Get Form’ button to access the IT-602 document and open it in your preferred editor.
2. Fill in your name or names as displayed on your tax return in the designated field.
3. Input your identifying number as required, which can be found on your tax return.
4. Proceed to Schedule A and enter the tax amount from your relevant form (IT-201, IT-203, or IT-205) as indicated on line 1.
5. Calculate and enter 50% of the amount from line 1 in line 2.
6. Move to Schedule B and enter the carried-over credit from the previous year’s IT-602 in line 3.
7. On line 4, determine and enter the lesser amount between line 2 and line 3, as it reflects the EZ capital tax credit available for this year.
8. Input your tax due before credits in line 5, derived from your respective tax return.
9. Enter the total of any tax credits claimed prior to this credit in line 6.
10. Calculate your net tax by subtracting the amount on line 6 from that on line 5, and write it in line 7.
11. On line 8, input the lesser amount of line 4 or line 7, which represents the credit you will use for the tax year.
12. Lastly, calculate the amount of credit available for carryover to next year by subtracting line 8 from line 3 and enter that result in line 9.
13. Once you have completed all fields, review your entries for accuracy. You may now save your changes, download, print, or share the completed form as needed.

Complete your NY DTF IT-602 form online today to ensure you claim your eligible tax credits.